Q1 2024 Boreo Oyj Earnings Call Transcript
A very good morning from Bon-Ton from the Boreo headquarter and I will welcome to Boreo's Q1 '24 earnings call. Myself, Kari Nerg, the CEO of the company; and Aku Rumpunen, our CFO. We will discuss the highlights of 2024, the first quarter and followed up with the presentation. Then we'll take any questions you may have. So please use the Q&A function that is there in -- made available for you.
So I will start with highlights as usual and Aku will then discuss and go deeper into the business performance then afterwards. Well, the sort of start of the year was challenging for us. So performance wise, we recorded a weak result, mainly due to decline of sales. So continued weak demand throughout our portfolio, led to a negative organic growth of EUR9 million and an operational EBIT of 2%. So EUR0.6 million.
On the positive side during the quarter, as in the previous quarters as well, we've been successfully managing our balance sheet and working capital. A strong operational cash flow of over EUR6 million, which is why partially we impacted by some timing on
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